Asked and AnsweredBy John W. Olmstead, MBA, Ph.D, CMCQ. We are a 12 attorney firm in Dallas. Our practice areas are business transaction and litigation. We also have an active energy practice. The past two years have been difficult for us financially. What are some of the successful firms doing right?A. In spite of the recent economic woes many small firms have still done well. Many of these firms were those that:Were focusedHad a sense of where they were and where they were headingHad a vision and a strategyHad business and financial plansHad goals and measured attainmentFostered accountability from self and othersWere proactiveWorked the books and managed the RULES (Rate, Utilization, Leverage, Expense Control, Collection Speed)I believe that law firms that fail to focus their practices, set goals, measure accomplishments, and foster accountability will fall short and not meet their financial objectives. Law firms that fail to plan are planning to fail.Law firms as well as solo practices need to begin focusing their firms and practices, setting firm and individual production goals, measure accomplishment and implementing systems to instill accountability from all members of the team - attorneys and staff alike.What gets measured is what gets done.Click here for our blog on law firm strategy
ISBA members, sign up to receive The Bar News' biweekly e-newsletter by emailing emailpreferences@isba.org
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September 4, 2013 |
Practice News
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September 4, 2013 |
Events | ISBA News
The 2013 ISBA Solo & Small Firm Conference will be held on Oct. 3-5 at the Westin Northwest Chicago in Itasca. Earn up to 16.5 hours of MCLE credit, including all 6 hours of required PMCLE credit.Register by Sept. 6 at www.isba.org/soloconference to receive the Early Bird discount.
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September 3, 2013 |
Practice News
The Illinois Courts Administrative and Statistical Summaries for 2012 are now available.Click here for the Administrative SummaryClick here for the Statistical Summary
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September 3, 2013 |
Practice News
When legal issues arise at home, Servicemembers are often unable to find the help they need. The aid and advice of a trusted attorney located in or near their home community can be a lifeline of support.JAG Corps attorneys can only provide limited counsel.Military Families may need assistance dealing with divorce, child custody, bankruptcy, probate and financial issues. Attorneys in the Judge Advocate General’s Corps (JAGs) are able to provide limited counsel to Servicemembers, but heavy caseloads, and numerous demands compete for their time. When Servicemembers return, they need legal help near their home communities.Only 37 percent of our military Families live on installations while the remaining 63 percent live in over 4,000 communities nationwide. Our troops need legal assistance closer to home. Give them someone to turn to for help.Learn how you can help Servicemembers in your community.To sign up please go to – http://militarylegalsupport.com
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September 3, 2013 |
Events
The Illinois Bar Foundation will honor Manny Sanchez of Sanchez Daniels & Hoffman, LLP with the Distinguished Award for Excellence at Gala 2013 on Oct. 18. The Gala will take place at 6:30 p.m. at the Four Seasons Hotel in Chicago. This year’s leadership includes Robert A. Clifford of Clifford Law Offices and William A. Von Hoene Jr. of Exelon Corporation as Gala Chairs, as well as the Hon. Russell W. Hartigan, Circuit Court of Cook County and Shawn S. Kasserman, of Tomasik Kotin Kasserman as Board Gala Chairs.The night includes cocktails, live and silent auctions, a raffle, dinner and dancing. To become a sponsor or purchase tickets, please call the IBF at 312.726.6072.For more information, visit the IBF website at www.illinoisbarfoundation.org.
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August 31, 2013 |
People
ISBA Past President William Paul Sutter, 89, of the Village of Golf, Florida and Northfield, Illinois, passed away peacefully on August 16, 2013 after a brief illness. Bill was born in Chicago on January 15, 1924 to Harry Blair and Elsie Paul Sutter. He graduated from Yale University in the Class of 1945 as a member of Phi Beta Kappa with a Bachelor of Arts degree in English. Bill’s time at Yale was interrupted while he served his country in World War II. He was a First Lieutenant in the U.S. Army Field Artillery stationed in the Philippines. Bill received his Juris Doctor degree from the University of Michigan in 1950 and was a member of the Order of the Coif.Upon graduation from Michigan, Bill joined Hopkins & Sutter, the Chicago law firm co-founded by his father. Bill twice argued cases before the U.S. Supreme Court, and he served as President of the Illinois State Bar Association from 1973-1974.
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August 29, 2013 |
ISBA News
ISBA President Paula H. Holderman interviews Esperanza Gaytan and Jaylin McClinton, students from the ISBA/JTBF Law & Leadership Institute (LLI). The program is designed to increase academic aspirations by exposing students to interesting aspects of the law, and introducing them to a variety of careers in the legal field. Find out more at www.isba.org/lawandleadershipprogram
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August 29, 2013 |
Practice News
ISBA Director of Legislative Affairs Jim Covington reviews legislation in Springfield of interest to ISBA members. In this episode he covers Collection procedures (Public Act 98-557), Recorded interrogations (Public Act 98-547), Minimum liability insurance coverage (Public Act 98-519) and The Recreational Use of Land and Water Areas Act (Public Act 98-522). More information on each bill is available below the video.
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August 28, 2013
Think a new law designed to ferret out taxable income parked offshore won't affect any of your clients? You might be unpleasantly surprised, tax experts warn in the September IBJ.1 comment (Most recent August 29, 2013)
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August 28, 2013 |
Practice News
Believed to be 1st time court will hear full term outside SpringfieldThe Supreme Court will convene for its September 2013 Term in the Michael A. Bilandic Building, 160 N. LaSalle Street, Chicago. The first oral arguments are scheduled for Tuesday, September 10 in the 18th floor Courtroom.Traditionally, the Supreme Court convenes to hear oral arguments in Springfield. It is believed that this is the first time that a full Term of the Court will be held outside the 105-year-old building since it opened in 1908.Gov. Pat Quinn announced June 6 the release of $12.6 million to rehabilitate the historic Illinois Supreme Court Building in Springfield. During the construction period which began June 17, the Supreme Court will hear oral arguments in Chicago. Rehabilitation is scheduled to be completed at this time next year. The Springfield office of the Supreme Court Clerk and other Springfield Supreme Court staff moved to an interim location at the Herndon Building, 421 East Capitol Avenue in Springfield. Telephone numbers remain the same.This will not be the first time that the Supreme Court has heard oral arguments outside Springfield. Five years ago, the Supreme Court heard two oral arguments at the Mt. Vernon courthouse as part of events marking the 150th anniversary of the court building and the 2009 bicentennial celebration of Abraham Lincoln's birth. That courthouse was used by the Supreme Court from 1857 until 1897, when the Court was consolidated in Springfield. The Court then met in the current state Capitol building until the Supreme Court Building at its present location opened nine years later.1 comment (Most recent August 29, 2013)